It’s too early to say with certainty what changes will be made in the tax laws this year. But it’s possible to make some educated guesses.
Tax Cuts, or Increases?
Things seem to be skewing towards tax cuts for middle income taxpayers in 2009. Moreover, higher income earners probably won’t see tax rate increases this year.
If the present economic malaise does not extend past 2009, chances are good that tax rate increases will be enacted for the highest tax brackets in 2010. Instead of topping out at the current 35%, the top income tax rate could return to 39.6%, …Read More